RBC Capital analyst Brian Abrahams lowered the firm’s price target on Corbus Pharmaceuticals (CRBP) to $53 from $55 but keeps an Outperform rating on the shares. Following ESMO updates, the potential $500M sales opportunity for ‘701 in HNSCC and $350M sales opportunity in cervical cancer have been better de-risked, the analyst tells investors in a research note. RBC adds that investors are still not fully appreciating Corbus’s potential large out-year sales opportunities across oncology and obesity.
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